All I’m asking Buttmunch is that you just don’t talk down FapTurbo in every single one of your posts. From what I see for the most part, your posts are just dealing with the subject of FapTurbo.
as you can start to see from other topics on this forum, fapturbo is starting to show its true colors, broker problems are just the start, but that in itself is a major concern
don’t say i didn’t warn ya’s
broker problems are going to happen with any EA that can profit against any market maker on a consistent basis.
solution: stop complaining and go to mt4 ECN. they have them, search!
The Idea of this particular EA is a great one, i will give them credit there, but limiting sales would have been the best Idea and I think it needs a lil more work on it before it can be the greatest out there. I;ve seen and have better ones i use on my live account
I admit with some hesitation that I decided to give FAP a try about 10 days ago. I had my doubts but with the 60 return policy thought why not give it a try. What is really setting off alarm bells for me is how strictly they are censoring the user Forum.
I posted a question yesterday looking to get some feedback from other users on how the program has been working for them the last week or so. I did this because I had a couple really big stop losses hit, and was curious if it was just a result of bad market conditions the last several days or that the program is beginning to break down.
As I expected my question/post was not posted on the forum. If they have absolute confidence in the system this type of censorship is inexcusable, and means only one thing to me…they’re scared and have something to hide.
Now I am just debating whether to give it a few more days trial run or go to clickbank to get my refund.
Thank god I am using a demo account, and thank god for clickbanks 60 day refund policy!
is that a fact
MY EA that I use has no such problems, NONE and yes it does profit, about 40% a month. no broker problems support problems NO PROBLEMS, just the way it should be!!
MY EA that I use has no such problems, NONE and yes it does profit, about 40% a month. no broker problems support problems NO PROBLEMS, just the way it should be!!
You are such a great guy!
Post your Ea and we will see if its really working.
if you think i’m going to post MY ea so others can steal it you are on crack,
once again, any EA that is MASS SOLD will fail in the end, most of you have not been around long enough to see this happen, I HAVE,
with my ea i don’t have to impress anyone, why would i, it works for me, low draw down daily profits, larger limits smaller stop losses, just the opposite of fapturbo, and guess what in 6 months i will still be making money and fapturbo will be not only on my ^%$# list but everyone else,
anyone that says this is the end all of EA’s and anyone using it will be rich is nothing but a scam artist. but by all means go to it, no &^%$ of my back if you loss your money. I was just trying to warn you.
it is a fact. scalp with a market maker and tell me what you get. I made almost 10% just today… and I have proof of that. brokers are mostly crooked but you have to pay to play. yes, we both have EA’s that could trade circles around FAPturbo but if it was limited, that would be better. oh well, back to trading, right?!
you making 10% in one day tells me one of two things, you either have an extremely small account or your very inexperiened and do not follow money management.
totally agree with buttmunch on this. Lot of wisdom there folks.
People dont shoot for outsize returns, if someone says i made like a 100% this month or something similar you can be sure he wont be around for very long if he continues to trade that way.
Just ignore such remarks
Try to be consistent and the main thing i find is not to lose money just try not to lose money and stick at it and over time you’ll outperform most of the traders in here who shoot for high returns.
buttmunch is absolutely 100% correct in saying it shows inexperinece (no offense to anyone and I’m not specifically talking about anyone)
Concentrate on not losing money forget about returns keep at it and I believe you’ll have your best chance of success
Yeah, you’re right about the account size but wrong about my experience. 89% wins and 25% draw down just doesn’t happen with inexperience and trading .2-.3 lot for every 1500-2k is not over leverage. Ive read all that before and it can be done and i do it day in, day out. once i get my other EA back, that draw down will drop about another 10%. it’s all in how you trade. you’re right, most people who trade don’t know jack about money management which is why when something goes wrong, they blame everyone but themselves and their inability to trade correctly in certain market conditions. to me, scalping is the best way to trade because there is no reason to hold a position in a market that moves quick enough to reverse on you in seconds, unlike the stock market where there are gaps and other things. i scalp an average of 30 times in 8 hrs. that’s just with the one EA with way safer stops than FAp will ever have. so yeah, those returns can be achieved if you want so i say to each is his own.
believe me i look at 3 things when it comes to this stuff:
ROI
Drawdown
Profit Factor
back testing, demos and all of that i don’t wanna hear about it or care about show me a live account and what it does and then I’ll see what’s up with an EA.
from what i have seen over at the “site that will not be named” (but is presently testing fat in real time) it trades in a similar manner to how i trade, which is NOT very good for a small account and newbs.
given EXTREMELY good money management and absolutely NO over trading, it makes money, end of conversation !
BUT, because it can often take a LOOOOOOONG time to make that money, many get impatient and enter the next trade, which CAN (and often DOES) force the dreaded margin call.
using box stock stop loss settings in this market is absolutely stupid and the brokers are ALWAYS aware of where you put your stops if youre using MT4 (which most ARE using) and is the reason so many stops get hit.
if youre looking for a good EA, search for a trend follower, such as the winner of last years contest (the owner RESEARCHED the currency in a nice uptrend and simply had the EA follow along — worked like a charm) BUT wouldnt in any other kind of market, so be warned that EA’s are designed for specific market conditions and will do well in those conditions, and poorly in others !
an EA that can replicate a good traders mindset WILL be developed, just as IBM beat Kasparov, but that was a monsterous effort, with 5 “attendents” who serviced the computer every night and altered its programming to keep up (I was there and watched), BUT it aint there yet, so one has to depend on what is available and what does what WELL !
SINCE few know the markets future from day to day, and the EA has no way of knowing either, depending on something that can be defeated as easily as fat can be is a bit silly i believe.
BUT, when it works and when you work with it correctly AND there is NO broker interference, it does make money !
always seems better to LEARN how to trade cause the broker CANT read YOUR mind !
enjoy and trade well
mp
[I][B]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !![/B][/I]
I agree with what you say. mt4 brokers will always know where your stops are IF you show them your stops! hint to those new to the EA world or trading for that matter. I don’t and won’t ever trust a market maker and it is imperative that old and new people understand who they really are. I am going to say this and you can like it or not and this isn’t directed towards any one person:
if you’re trading with a market maker, then you’re not serious about trading in forex, period! that’s just the way it is!
well now !
allow me to state that a ONE line message proclaiming itself as COMPLETE FACT is subject to a whole lot of scrutiny on my part, and i can scrutinize with the best of them !
certainly a few million dollars will allow you to enter the world of “liquidity provider” and certainly add to ones bragging rights as a “true” trader, but that tends to be ever so slightly beyond the reach of most newbs, although i must state the emphasis is on “most !”
so now what does one do when faced with micro accounts which wont cut the mustard on tier 2 of the forex world — drop back and punt or just do penny stocks perhaps ?
or perhaps what i do is terribly wrong — having a “broker” (read market maker) AND using an ECN ? I will have to forget the days i accumulate 400 pips with the market maker and give it up completely because “im not serious about forex ?”
i understand what youre saying, and a part of me agrees (in part) but one can trade EXTREMELY WELL using one which i can prove every single day — its simply a matter of knowing what to do and how to do it !
enjoy and trade well
mp
[I][B]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !
As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !![/B][/I]
this is what was said to me by a guy on youtube and it is true in all parts but your answer is in what i am about to post:
"After Listening to my Tips on Trading Videos, many people want to know how to choose a fare Forex Boker, and whether or not it is possible to trade successfully with a Market Maker who will offer them higher leverage than Electronic Commerce network (ECN) Brokers. Let me elaborate on the matter.
Yes, it is possible to trade successfully in the artificial trading environment created by a Market Maker, more with some than with others,(all of whom offer trades from their own liquidity pools), but it is much more challenging and of higher risk. To trade successfully with a Markwet Maker or with a counter trading liquidity provider who controls the trade platform they provide to the trader, requires an understanding of their counter trading position, their financial motivation, their self-preservation tactics, and how to compensate for them the best. Only by this can the trader learn to be able to win enough of the time and for long enough to become a successful trader in the artificail Forex market provided by counter trading brokerage services, whether through their personal dealing desk or through their liquidity providers directly.
Of course, since the client’s trading successes are the counter trader’s or Market Maker’s losses, the higher the account leverage offered to or required by the trader from the counter trader, the greater the risk for that Broker, and therefore, the more tactical interference that Broker will create in order to protect his countertrading interest. If you are still successful enough at high leverage trading, despite their usual tactical sabotage, most, if not all Market Makers will eventually resort to more drastic measures to protect their interest, even if they end up being threatened with complaints to the National Futures Association (NFA) which could result in an investigation for unethical or dishonest Broker Dealer practices.
No Broker wants an investigation, so this is how the Brokers more drastic self-preservation methods will likely unfold.
The account is flagged to locking up the traders platform to prevent existing trade closer at a significant turning point in the market that will force the trade into the negative to close out at a loss, sometimes even a margin call. If and when you complain, the Broker will then claim that it is due to freak or periodic liquidity issues that are beyond the brokers control and that just need to be accepted as part of the risks of trading in the Forex, hoping that the trader will fall for this lie, accept responsibility, and give up the fight, which most ignorant naive traders do. If that deception doesn’t work, then the broker may claim that their is nothing that he can do about it, hoping still that the client will still give up the fight. Many do just that. For those who still persist, he may try to accuse the client of using some kind of an unethical trading edge and that that he simply cannot allow unethical clients to be successful, or to trade any longer with their firm. If the client is now persistent, angry, and smart enough to threaten filing a claim with the NFA, the Broker will likely shift his tactical position to negotiating a settlement, offering a small fraction of the amount lost, in staed of the prospect of wading through a long drawn out investigation from the NFA that may or may not result in a favorable decision for the trader. Most remaining traders cave in at this point and accept some kind of offer to make an adjustment to their account, restore 10 to 30 percent of their loss. Afterall, the Broker will reason with them, if you are good enough to get this far with your account, then you could buiold it all back again, and much more, before you would ever get an answer to a complain to the NFA, right. This all makes perfect sence, accept the trader is somehow never able to experience the same kind of result with that broker service, either due to tactical manuvering from the Market Maker to prevent success, or by a combination of that and new emotional interference in the mind of the trader who is never able to get completely mentally accept the injustice of the settlement. until the trader finally realizes that the Broker new at the time of the settlememnt that this client/trader’s account would forever more be flagged as a hiugh risk account, to be regularly sabotaged, never again to be allowed to be come so successful. Of course the Broker will have also had the trader sign a release, waiving the Broker of all responsibility, and even promising to never speak mof this incoident and of the settlement to anyone else, and to never file a complaint about it to the NFA. Alas, the complaint to the NFA would probably have been a more profitable choice, even if the investigation did take six months. Then again, it may have resulted in a much higher settlement offer from the Broker, perhaps even a full restoration of the losses in question to the traders account. Then, the Broker must decide whether or not to continue allowing the client to trade an account with him. Frankley, it is better to take your money somewhere else.
It is best to transition to an ECN Broker when once you are able to a sizeable enough accounbt with a market Maker. In a few cases, their are ECN Brokers or their Introducing Brokers (IBs) who will aloow a trader to open a rathyer small account, offering mini accounts with 10K unit sizes and fractional lot trading. You must watch out, however, for those Market Makers who attempt to present themselves as ECN Brokers by claiming to have no dealing desk, and to not take the counter trade position against you. Some Brokers are Market Maker wolves in ECN sheep’s clothing, by sub-letting or delegating these Market Maker tactics to another, or by simply representing their liquidity provider’s interests who is the one really offering the trades and who also controls the trade platform, spread rate variations and the power to manipulate the trade platform and the artificial market against the trader, designed to sabotage their trades. Don’t be fooled.
Now, some of the most reasonable existing ECN Bokers, in order of the lowest account sizes available, are the following:
mbtrading.com ($400+)
efx.com (IB for mbt $500+)
pfgbestdirect.com (IB for pfg $1,000+ for my students)
atcbrokers.com (IB for hotspot $3,000+)
hotspot.com ($7,500+)
interactivebrokers.com ($10,000)
Other ECNs are higher
Of these and all other ECNs or their IBs, the best are those who will provide a neutral trade platform that acts as a blind bridge between the trader and the countertrader, preventing the counter trader from having control over the trade platform, keeping the countertrader from seeing what the trader is doing with each of his/her trades. IBs for ECNs tend to claim this capability/service and they are the ones who would be most motivated to stand by this claim if in deed it is completely true. They make much more money when the trader, their client, is successful.
The bottom line: If possible, The trader does not want the counter trader to have knowledge or control of three things:
1, the trader's trade platform to maniplulate the timing of trade entries, and especially trade exits.
2, the variable spread rate and the interpretation of a fast moving market that determins the justification for variation in spread rate.
3. knowlege of where the trader is placing his/her stops and limits.
Most traders do not have access to currenex platforms and to institutional trading, but these priviledges offer more competitive advantages and blind bridge services than the retail brokers. This requires more money in an account, and more experience as a trader to be worth that risk. Its better to start practicing live trading after you have proven a successfull trade plan in a demo account, and then to begin live trading with a very small amount of money until you have obtained the experience and ability to grow an account to enough to transition to higher account sizes, advantages, and priviledges.
To do this, you must have the right combination of education, proven trading skills and plans, self-discipline to stick to that plan as it has been refined under live trading.
There will never be a perfect broker. There will always be risks and the necesity of accepting losses. And, there will always be the traders emotions to manage, control, and to eliminate throught belief system and though pattern rewiring, re-establishment, and reconstruction. After all the rest, this is the ultimate challenge that every trader must face and overcome.
I hope this is helpful,
Stephen Story"
his name on youtube is ForexCoachingPros
check him out. very useful!!
P.S. I use BroCo investor mt4 connected through a currenex bridge and i can only do minlots but it’s worth it.
enjoy all!
WHEW — and they say my posts go on and on and on !
while i use Broco (golden contract once also) and MB and am demoing FXCM (which i like TREMENDOUSLY) i dont use a currenix feed but rather feeds from barclays, tullet and FXCM themselves (theyre a liquidity provider with very accurate feeds) that feed into my quotetracker platform.
[B]but Broco IS a market maker[/B], have no doubts of that, and while they do have a disconcerting habit of their feed suddenly disconnecting in the middle of something important, it doesnt much matter since all my trades have preset tp points which their server honors.
[B]Now you rail against market makers on the one hand, yet proudly proclaim you use one in your trading[/B] ---- while there must be some very good logic behind all of this, it doesnt quite jib with what youre saying.
or perhaps im just missing something here ?
enjoy and trade well
mp
Broco investor 4 IS NOT the platform that is a market maker platform. they have 2 platforms, one that is four digits through the deal desk and one that is five digits through the currenex bridge. which one do you have because the spreads are way lower and the commission isn’t bad at 5.00 per 1 lot. i am on a VPS and HAVEN"T HAD ONE DISCONNECTION EVER! now, my friend on his local connection has had a few disconnects but the trades are about the same which leads me to number two, i will never trade on a local connection ever again. I will only use a VPS. even when i was using FAP and FAPtirbo, there was quite a difference! and when i stop renting, i will have two servers in my house for the best speed. that’s what the pros do. my entries AND exits into the market are within 1-5 secs. is that what you have in your journal? let me know because it sounds like you have the four digit and not their new five digit platform.
I use broco 4 for my core positions, swings and timeframes over 10 minutes and MB for the 5 digit scalps.
when going for 35 pip moves, having the ability to add another digit is of little true value, but is meaningful in a “scalping” situation.
Currenix is something like Etrade — once the best game in town, there are now others doing just as well and barking at the heels of what once was the big dog and delivering really great results for a whole lot less.
but anyway, thnx for clearing up the mud there !
mp
once again, i complete agree! a 35 pip move defiantly aint a scalp! you’re also correct in saying, that any longer term trading and going for what you do like 35 pips at times, any broker should work, market maker or not. but you most DEFIANTELY need 5 digits and an ECN or some sort of bridge to one to scalp like i do, 30 times a session on average for less than 10 pips per trade! you need to get those spreads down or maybe even scalp in between them and get in and out sometimes in seconds!
yeah, currenex isn’t the only one around, just the most popular when you think of ECN institutional trading. that and the hotspot platform, which, i hear they’re getting out of retail forex and staying with institutional trading. i do like MBT but i cannot wait till there mt4 platform is out of beta! that is by far, the best mt4 platform I’ve seen to date. i would put Broo 2nd and ATC 3rd becasue their spreads are a bit higher than BroCo
good talking
enjoy and trade well
mp